Gas prices lowest since that big price hike in January

Gas prices are less than they were in January, but still not low as they were a year ago. Photo: 2016 file

Mérida, Yucatán — Drivers started out Wednesday with the lowest prices in fuel since prices spiked back in January.

Today, the popular Magna grade is sold for 15.03 pesos in the Progreso zone. The last time gas was anywhere that low was in June, when it was priced at 15.06 per liter.

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Gas prices have dropped by an average of 36 cents per liter since new pricing formulas played havoc with pump prices. Some gas prices rose as much as 20 percent overnight, triggering protests around the country.

Gas is still higher than it was a year ago. Magna was averaging 13.40 pesos in 2016.

According to information based on the lists issued by the Energy Regulatory Commission, Wednesday the cost of gasoline per liter in Merida is 15.10 pesos for basic Magna, Premium is 16.82, and Diesel is 15.91.

The pricing formula favors stations in the Progreso area, which sells the least expansive gasoline in the state. Today, Magna sells there for 15.03, Premium is 16.74 and Diesel is 15.83.

Yucatán is selling gas for 1.18 pesos per liter under the national average.